Maersk Drilling to be stand-alone company

Maersk Drilling will become a stand-alone company next year as its parent company continues its exit from the oil and gas business.

A.P. Moller-Maersk, Copenhagen, separated its transportation and energy businesses two years ago and cut energy investment.

Last year, it sold Maersk Oil to Total SA for $7.45 billion in stock and debt assumption.

In its financial report for this year’s second quarter, the company said it will seek a separate stock-exchange listing for the drilling company in 2019.

Maersk Drilling’s rig fleet includes 16 jack ups, four semi-submersibles and four drill-ships.

Source: Oil & Gas Journal